18. You sell one December gold futures contract when the futures price is $1,010 per ounce. The contract is on 100 ounces of gold and the initial margin per contract that you provide is $2,000. The maintenance margin per contract is $1,500. During the next day the futures price rises to $1,012 per ounce. What is the balance of your margin account at the end of the day? A. $1,700 B. $2,200 C. $1,300 D. $1,800 19. A hedger takes a long position in an oil futures contract on November 1, 2009 to hedge an exposure on March 1, 2010. The initial futures price is $60. On December 31, 2009 the futures price is $61. On March 1, 2010 it is $64. The contract is closed out on March 1, 2010. What gain or loss is recognized in the accounting year January 1 to December 31, 2010? Each contract is on 1000 barrels of oil. A. $1,000 B. $3,000 C. $4,000 D. $2,000